The US dollar slumped as President Trump’s tariff announcement sent shockwaves through global markets. With a 10% baseline tariff on imports, fears of a global economic slowdown intensified. Investors sought safe havens as stock markets and currencies faltered.
The US dollar slid while the euro firmed after President Donald Trump announced harsh new tariffs on imports, sending shockwaves through global markets. The 10% baseline tariff, with higher levies on key trading partners, is set to take effect on April 9, impacting around 60 countries.
The move escalates trade tensions, fuelling fears of a global economic slowdown. Investors scrambled for safe-haven assets, boosting the yen and Swiss franc, while US Treasury yields plunged. Stock markets also suffered as concerns over inflation and retaliatory measures grew.
European Commission President Ursula von der Leyen warned of potential countermeasures if diplomatic talks with Washington fail. Meanwhile, the euro strengthened, while the British pound surged to a five-month high. In contrast, Asian currencies weakened, with China’s yuan hitting a two-month low.
Market analysts caution that prolonged trade disruptions could weigh heavily on the US economy, increasing the likelihood of recession. However, some experts suggest Trump’s aggressive stance may be a negotiation tactic rather than a long-term economic strategy. As global markets remain on edge, investors await further developments that could determine the course of the unfolding trade conflict.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for 10 June, covering the latest developments you need to know....
Azerbaijan's Foreign Ministry says 19 citizens have been repatriated following a deadly drone attack on two cargo ships in the Sea of Azov on 5 June....
A discreet visit to Kyiv by Russian billionaire and businessman Roman Abramovich has reignited debate about the role of unofficial diplomacy in effort...
At least 13 people were killed and 14 others wounded after Pakistani airstrikes targeted areas in eastern Afghanistan, according to Taliban spokespers...
U.S. forces say they have completed strikes on Iranian military sites near the Strait of Hormuz. Iran responded with missile attacks on an American b...
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 20th of March, covering the latest developments you need to know.
Anutin Charnvirakul has returned to power after winning a fresh mandate on Thursday following a Parliamentary vote in a country plagued by political drama and turmoil.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 18th of March, covering the latest developments you need to know.
President Donald Trump said NATO is making a “very foolish mistake” by refusing to help the U.S. as Israel Katz claimed Ali Larijani was killed in Israeli strikes.
Armenian Prime Minister Nikol Pashinyan's Civil Contract party has won the Armenian elections, picking up nearly half the vote. With a majority in parliament, Pashinyan is set for a third term as Prime Minister. But an opposition politican has said he will challenge the election results.
Azerbaijan's Foreign Ministry says 19 citizens have been repatriated following a deadly drone attack on two cargo ships in the Sea of Azov on 5 June.
A Sudanese man has been arrested over a knife attack in Belfast that left a man seriously injured and prompted calls online for a protest after footage of the incident circulated widely on social media.
Barcelona is preparing to mark a historic milestone in the legacy of architect Antoni Gaudí as Pope Leo XIV visits the city this week to inaugurate the Tower of Jesus Christ at the Sagrada Família basilica, almost exactly 100 years after the visionary architect’s death.
Iran and Israel have halted strikes on each other, but Tehran has warned it will recommence attacks if Israel continues military action in Lebanon. U.S. President Donald Trump and Lebanese President Joseph Aoun have meanwhile made pleas for peace.
Apple has unveiled a long-awaited upgrade to Siri, aiming to close the gap with technology rivals and emerging artificial intelligence firms in an increasingly competitive market.
ChatGPT maker OpenAI has confidentially filed for a U.S. initial public offering (IPO), the company said on Monday, joining rival Anthropic in a race to the stock market as investors seek exposure to the artificial intelligence boom.
Chinese carmakers are rapidly reshaping the global automotive market, with record exports, soaring electric vehicle sales and growing investments overseas putting pressure on established European, Japanese and U.S. rivals.
The International Labour Organization (ILO) has begun its latest round of negotiations on creating the first binding global standards for platform-based work, covering services such as ride-hailing, food delivery and other app-based work.
European companies are continuing to deepen their presence in China, with nearly seven in ten firms maintaining or expanding their supply chains despite global efforts to diversify, according to a new survey by the EU Chamber of Commerce.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment